Cairo – Mubasher: Egypt will see 600 of its goods fully exempted from custom duties under the Mercosur preferential free trade agreement (FTA) starting from 1 September, the Minister of Trade and Industry, Nevine Gamea, said.
Among the items included in Category B of the agreement are cement, natural gas, mineral oils, and citrus, Gamea added in a statement on Thursday.
The coalition of the Southern Common Market (Mercosur) includes Brazil, Argentina, Uruguay, and Paraguay.
Since the agreement came into effect in September 2017, the Egyptian exports to Mercosur have significantly increased, jumping to $490 million in 2019 from $212 million in 2017, Head of the Egyptian Commercial Service, Ahmed Maghawry, said
On the other hand, the Egyptian imports from Mercosur fell to $2.8 billion in 2019 from $3.9 billion in 2017, he added.
